Market Report for Jun 18 2020
Most retail traders are wrong most of the time. Don’t follow the news, noise or herd, follow the price action and trend.
NET – buy stop order from a couple of weeks ago triggered unexpectedly @34.65. We were actually waiting for a retest or BuF but unfortunately triggered late in the day after the majority of the sessions move had already taken place.
Nasdaq Composite +10.5% YTD
S&P 500 -3.6% YTD
Dow Jones Industrial Average -8.5% YTD
Russell 2000 -14.5% YTD
NYSE Vol: 1.0B
Nasdaq Vol: 4.2B
All the major indices, except Nasdaq closed lower yesterday. Weakness could’ve seen in small-caps, financials and energy which were -1.51% and -3.41%.
Due to the mix in nature, wait for a further pullback for opportunities or wait for all indices to return green for breakouts. So today we will be standing aside.
Lets go trade!